BNZ expands relationship with brokers

BNZ has announced a second broker partnership with Mortgage Express making the bank’s home loan products available through an additional 80 brokers across New Zealand.

The bank re-entered the broker market in May 2015 after a decade long hiatus in a bid to boost its market share.

BNZ Director of Retail and Marketing Craig Herbison described progress through the broker channel as having exceeded all expectations.

“We have a fantastic volume of applications coming in. Internally at BNZ, our Broker Hub team has more than tripled to keep up with demand, and we’ll continue to grow that team to help our broker partners,” he said.

General Manager of Mortgage Express Sarah Johnston said that adding BNZ to their panel of lenders was a significant boost for Mortgage Express.

“Our customers are asking for more options and the sharpest rates and BNZ has a strong role to play in those conversations.  It’s really exciting to be working with such a customer focused lender,” Ms Johnston said.

The partnership with Mortgage Express takes BNZ’s reach to 430 brokers which will help to grow BNZ’s housing share and impact in Auckland.

Mortgage Express will begin offering BNZ products from the middle of April this year.

BNZ re-entered the mortgage broker market in May 2015 through an initial partnership with New Zealand Financial Services Group.